Brazil: Votorantim Cimentos recorded consolidated sales of US$2.59bn during the first half of 2023, up by 51% year-on-year from US$2.37bn in the first half of 2022. The group reported that cement demand was ‘strong’ in the US and ‘stable’ in Spain, however the Brazilian and Canadian markets were ‘challenging.’ Its costs also rose, by 4.2% to US$2.1bn from US$2.02bn. Despite this, Votorantim Cimentos’ net profit grew by a factor of 11, to US$112m from US$10.1m.
Votorantim Cimentos increases sales and profit in first half of 2023
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